Carnelian Private Growth & Innovation Fund
About the fund
- What it does — “Growth-to-PIPE” Fund investing in high-growth, differentiated & innovative businesses. Fund AUM ₹2000 Cr including ₹800 Cr Green Shoe Option. Tenure 6 years + 9 months (extendable 2 years). Management fee 2.00% (upto 5 crores); Hurdle 12.00%, Sharing 20.00% (without catch-up). Investment period 36 months from first close + 1-year extension. Initial drawdown 10% of the capital committed. Target 15-20 companies across 4+ preferred sectors. Expected return potential: earnings growth 20–25% plus re-rating potential 5–10% = total return potential 30–35%. Peak MOIC 5.0x (Aeroflex Industries); Peak IRR 87% (Park Medi World).
- Fund manager — Vikas Khemani
- Investment manager — Carnelian Asset Advisors
- SEBI category — Category 2
- Strategy / type — Growth-to-PIPE
- Vintage year — 2026
- Status — Active
- Last updated — 31 Jul 2026
Key metrics
AUM
₹2,000 Cr
1-year return
Not Available
Since inception return
Not Available
Benchmark
Not Available
Minimum investment
₹1 Cr
Lock-in period
Not Available
Initial drawdown
10% upfront of the capital committed
Management fee
2%
Performance since inception
Fund returns across standard periods, as disclosed by the manager.
Performance data is Not Available for this fund.
Gross track record · source data · as of 30 July 2026. Track record figures are company-level investment data; past performance is not indicative of future performance.
Get in touch
Speak to the JK Capital team
Sector-wise allocation
Portfolio weights as disclosed by the manager as of 31 Jul 2026. Total allocation 0.0%.
Fact sheet
The preview is intentionally obscured. The full fact sheet is shared by email on request.
Locked
Request the full Carnelian Private Growth & Innovation Fund fact sheet
Use the “Request for the Factsheet” button on the preview and we'll email you the complete document.
Disclosures
This document has been made available solely for informational purposes and is for private circulation only. Neither the transmission of this document nor the transmission of any information contained herein is intended to create, and receipt hereof does not constitute formation of, any relationship between JK Capital Private Limited (“ JK Capital”) and the recipient. JK Capital disclaims any and all liability arising from actions taken or omitted to be taken based on the contents herein.
The details of assets/securities, information, reports and services provided through this document are for general guidance and information purposes only. The information is dependent on various assumptions, individual preferences and other factors and should not be solely relied upon for making investment decisions. Information used in this document is believed to be from reliable sources, including publicly available information and information supplied by service providers. Any calculations are approximations and should be independently confirmed before reliance. This document is not an offer to sell or a solicitation to buy or sell any financial product.
The information and data herein alone are not sufficient for investment decision-making. Investors should read the relevant offer documents and understand applicable risks before investing. Nothing herein should be construed as investment advice. JK Capital Private Limited is engaged in the business of distribution of third-party financial products or acts as a referral agent of third-party financial products and services. AMFI Registration No. ARN-252668 | BSE StAR MF Member: 56608. Mutual Fund investments are subject to market risks. Please read the offer document carefully before investing.
Source: Carnelian Private Growth & Innovation Fund presentation and factsheet materials. Fund terms, investment strategy, portfolio construction, track record, and performance information, where presented, are based on the source materials and are subject to the terms and disclosures therein. Portfolio and fund information is based on data available as of 30 July 2026. Past performance may or may not sustain in the future.
*Disclaimer: The above figures have been sourced from the Carnelian Private Growth & Innovation Fund – Category II AIF Fact Sheet
© 2026 JK Capital Private Limited. This document and its design are proprietary; reproduction or redistribution without written consent is prohibited. The JK Capital logo, factsheet design, data, and contents are the exclusive property and trademarks of JK Capital. Any unauthorized reproduction, redistribution, amendment, alteration, or falsification of this document is strictly prohibited.